New Delhi, Aug. 6 -- US President Donald Trump late last evening (August 5) announced that fresh tariffs on pharmaceuticals and semiconductors could be unveiled within the coming week, further complicating the global trade dynamics.

Countries around the world are bracing as new waves of US tariffs are due to take effect this week. India is at a disadvantageous position as Trump's tariffs on the country are not only at a significantly high 25% but he has also threatened to raise the US tariff on Indian imports "very substantially over the next 24 hours" due to the country's purchases of Russian oil.

Now, India faces fresh headwinds being one of the largest exporters of pharmaceutical products. Moreover, any duties on semiconductors could...